SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549



                                    FORM 8-K



                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                        Date of Report (Date of earliest event reported):

                                 July 24, 2003

                              METRIS COMPANIES INC.
             (Exact name of registrant as specified in its charter)


         Delaware                   1-12351               41-1849591
(State of Incorporation)   (Commission File Number)  (IRS Employer
                                                      Identification No.)



10900 Wayzata Boulevard, Minnetonka, Minnesota                   55305
(Address of principal executive offices)                      (Zip Code)


                                 (952) 525-5020
                         (Registrant's telephone number)


Item 5.   Other Events

On July 24, 2003, Metris Companies Inc. issued a press release to report its
financial results for the second quarter ended June 30, 2003. Attached hereto as
Exhibit 99.1 and incorporated herein by reference is a copy of that press
release.



Item 7(c) Exhibits

99.1 Press release of Metris Companies Inc. dated July 24, 2003, reporting
financial results for its second quarter ended June 30, 2003.



                                  SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                              METRIS COMPANIES INC.


                              By /s/David D. Wesselink
                                David D. Wesselink
                                Chairman and Chief Executive Officer
Dated: July 24, 2003